STP Update or wait??

  • 1
  • Question
  • Updated 2 weeks ago
Hi, When the Jobseeker money comes through to my bank account it is always well after I have paid my staff. Should I wait to submit my STP on Reckon Hosted, or should i do an Update after I have received the money's.
Photo of Dee Pentney

Dee Pentney

  • 152 Points 100 badge 2x thumb

Posted 2 weeks ago

  • 1
Photo of Bruce

Bruce

  • 3,156 Points 3k badge 2x thumb
I'm assuming you mean JobKeeper not JobSeeker.   

When you do your payroll run, whether it be wages or a JobKeeper top up amount you must then lodge the STP file which will include both of these amounts.   This should be lodged before you actually physically process the pay.

No further action is required in respect of STP.   STP is all about "how much you pay your employees and when you pay it".   There is no link between when you receive the JobKeeper and STP.  

Photo of John Graetz

John Graetz

  • 28,864 Points 20k badge 2x thumb
Bruce.  What is your reason for wanting to lodge the STP file before you physically process the pay?  I have never done this and see no reason why it should be done that way and in fact, I regard it as "dangerous" to do that until such time as the banking side has actually been completed which to me is when the pay is finalised.
John L G
Photo of Bruce

Bruce

  • 3,156 Points 3k badge 2x thumb
John
I wasn't 100% correct.   From ATO website https://www.ato.gov.au/business/single-touch-payroll/in-detail/single-touch-payroll-employer-reporting-guidelines/?page=5
which says
You are required to report a pay event to the ATO on or before the pay day. The pay day is either the payment date stipulated in the electronic transaction to your financial institution or, if you did not stipulate a date for payment, the date you intend to make the payment into your employee's bank account.

My apologies for the error
Photo of John Graetz

John Graetz

  • 28,864 Points 20k badge 2x thumb
Thank you very much Bruce for this information and no need to apologise.  Actually I was not aware of the strict reporting function and I have been in breach on more than one occasion, having forgotten to lodge on the day.  Had you not made your "error" I would not have become aware of this, so once again, thanks!
John L G